What is Maker? A Complete Guide to MKRMaker - long known as
MakerDAO - is one of DeFi?s oldest, most battle‑tested protocols. It introduced
Dai (DAI) in 2017, a crypto‑collateralized stablecoin soft‑pegged to the U.S. dollar, and the MKR governance token used to manage risk, fees, and upgrades. In 2024?2025, Maker began a major overhaul dubbed Endgame, rebranding public‑facing products as Sky (with USDS and SKY positioned as upgrades to DAI and MKR). Because many users and apps still reference the Maker/MKR terminology, this guide explains how the system works today and clarifies what the rebrand means for MKR holders.
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